MOSCOW, June 02. /ITAR-TASS/. The average price of Urals oil brand, Russia’s key export, increased 5.3% on the year and fell 1.1% on the month to $107.7 per barrel in May, Alexander Sakovich, an expert at a Finance Ministry department, said on Monday.

In January-May, the average price of Urals oil brand fell 0.27% on the year to $106.95 per barrel.

In 2013, the average Urals price amounted to $107.88 per barrel. The Economic Development Ministry forecasts the average price at $104 per barrel for 2014.